Sounds like Truss is going to pin the energy companies into long term fixed costs. That could be better than a windfall tax. Also potentially capping the cost that UK gas and oil can be sold for. Interesting.
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I would agree, but I disagree with your initial point of a âgotchaâ. What if it was re-framed as an issue of disaster capitalism, where companies with such windfall profits are basically taking advantage of an ongoing disaster? Itâs not as though any of these companies have specifically done anything to optimise for the situation of war causing sky-high energy prices, so why should they be rewarded for it?
These companies would also be the first in line asking for a bailout if they made catastrophic errors, so I have no qualms about a windfall tax. Maybe incentivising them to use their profits to invest heavily and solely in renewable, UK-based power generation schemes for environmentally-sustainable energy independence is an out, but like @RedWhippet points out, where is the balance between the longer-term needs and the shorter-term needs?
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Sorry, I know little detail about housing planning - I work on big strategic projects (airports, incinerators, quarries etc).
When it comes to orientation - certainly, most master plans donât have housing all facing the same way (kills off sense of place), and thus far, not seeing many new builds with solar going on them.
What has become clear is that the panels have improved vastly over the years, and are able to capture much more energy, meaning the orientation shouldnât have as much as impact (clearly there will be a sweet spot). Some neighbours up the road just stuck panels on the east facing side of their roof, that I was surprised to see! Suspect Solar companies just want to install their kit so will tell customers what they want to hear!
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Really? Companies like BP have had to pay out ÂŁ25b and more when things like the deep water horizon disaster happened. No government bail outs.
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Did it cover the cost of the cleanup, let alone punitive damages?
Interesting idea but how does that return money to the public purse when some creative accounting can whittle away profits into weird and wonderful âimprovementsâ.
In normal circumstances I think that has a valid place but this is exceptional. My view anyway.
Unfortunately Truss isnât going to do any of this.
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Is that just batting the cost down the line? When the Ukraine crisis is over one way or other and wholesale prices reach some kind of norm. Will the UK population basically be paying a premium for itâs energy.
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I know the whole thing is political theatre akin to the pantomime but PMQs pisses me off so much. PM doesnât answer a single question, is allowed to outright lie, some random backbenchers ask bullshit questions and - in the middle of the biggest cost of living crisis the country has ever seen - the whole parliament hoots and hoolers and laughs their way through the whole thing.
I say it everytime I have the misfortune of hearing it but have a bit of fucking decorum, stop with the bullshit and actually work together to fix the problems of the country. God itâs infuriating that these people are supposed to be the leaders of the country. Itâs hard to think of a group of people less qualified to lead the country.
Also, on windfall taxes, the boss of BP said he would favour a windfall tax. Theyâve already planned out their spending and have no real use for the excess profits they are about to have, it would have no effect on their investment.
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ÂŁ2,500 per year price cap for 2 years - âsaving households ÂŁ1000 per yearâ
Just me or does she sound pissed?
Yep. I think Sheâs trying to put an early marker down on how she will operate - take no shit, stand strong etc
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Maybe her Bluetooth connection to the remote control is lagging a bit.
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Lagging? Sheâs in a different time zone. How the hell she got in Iâll never know. Sheâs an embarrassment. Surely the first skill of a politician, let alone a member of the cabinet and critically the PM is one of public oratory? Boris played the fool but he could talk the talk, as could those who came before him. Sheâs less confident and talented than a socially awkward and shy bag of cement.
She said nothing, at length. Her and Starmer are a good team. All the charm and charisma of a messy car crash.
When was that? I donât think Iâve ever heard a coherent sentence out of him.
Thatâs just being harsh for the sake of it. He could entertain and be coherent. There might have been questionable content but at least he didnât talk about FUCKING CHEESE.
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I still maintain sheâs a robot being controlled externally.
The âentertainingâ was presumably the bumbling fool act. Coherent? He reminded me of that Rowley Birkin character that Paul Whitehouse did on the Fast Show. Aside from that Iâve come across people with actual speech impediments that were better public speakers. He is a classic bluffer - he will make aimless noises and random statements until he can think of any old rubbish to fill the gaps.
Oddly enough, Iâve just been listening to that Rory Stewart podcast and he made pretty much the same comment - and he actually used to work for him in government so has first hand experience. He mentioned the last time he heard him make any sort of coherent speech was 14 years ago and that was something to do with the classics.
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Not really, when you work through why the profit is happening. The price of natural gas sets the marginal cost of generating electricity in the UK market, and the vast majority of the UK electrical market is natural gas generation. A normal operator will earn the âspark spreadâ, the difference between the value of the natural gas input and the electricity output.
Any operator that has contractual access to natural gas below the current market price is earning a secondary spread, the gap between the market price and the price they are actually paying. That is a âwindfallâ profit.
Any operator that doesnât use that fuel (for example, renewables like PV and wind that use no fuel at all) is making a massive profit.
The entities that are making money directly from the UK are not really connected to Russia, except by way of that market price.
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